Quarterly report pursuant to Section 13 or 15(d)

Asset Retirement Obligations

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Asset Retirement Obligations
3 Months Ended
Sep. 30, 2011
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation Disclosure Text Block

Note 13 Asset Retirement Obligations

A reconciliation of the Company's asset retirement obligations for the three months ended September 30, 2011 was as follows:

  Balance at June 30, 2011   $ 11,397,410
  Liabilities acquired     74,542
  Liabilities settled    
  Accretion expense     157,614
  Revisions to estimate    
  Sale of assets    
  Reclassification to Liabilities related to assets held for sale (Note 6)     (6,223,114)
  Exchange effect     (689,222)
  Balance at September 30, 2011   $ 4,717,230